EINC – A DECENTRALIZED BLOCKCHAIN FOR ORGANIZATIONS AND APPLICATIONS

ask2lance (26)in #bkockchain • 6 years ago (edited)

images(37).jpg

The blockchain technology is a decentralized database of transactions and it’s the first decentralized database that is highly tamper resistant. The blockchain’s security was a dominant design goal and that is the reason why decentralized applications (dApps) are set to revolutionize traditional applications.

Decentralized applications (dApps) are programs that exist and run on a blockchain network of computers rather than a single computer, and are outside the purview and control of a single authority. A standard web application, like Facebook or Uber, runs on a computer system which is owned and operated by an organization giving it full authority over the app and its workings. There may be multiple users on one side, but the backend is controlled by one single organization. When it comes to cryptocurrencies, dApps exist and run on blockchain network in a public, open source, decentralized environment and are free from control and interference from any single authority. With this process a developer can create a Twitter-like dApp and put it on a blockchain where any user can tweet messages. When it is on the blockchain, no one — including the app creators — can delete the tweets. Editing may be possible by the sender, but the original tweet would be retained forever.

Decentralized organizations (dOrgs), is an organizational structure whereby operations and decision-making responsibilities are delegated by top management to middle and lower-level managers within the organization, allowing top management to focus more on major decisions. For the growth of small business, their is a need to decentralize the system for efficient operations. Decentralization offers several advantages, though relinquishing control may be difficult for a business owner accustomed to making all the decisions.

Since the blockchain technology is still growing, the blistering pace of change and new solutions emerging daily are helping to offset some of the drawbacks of this novel approach to decentralization. So many developers are still experimenting the dApps space with new models and while the current model of application development is still improving, people are waking up to the potential power of alternative application development solutions. This means organizations need a better and more secure web apps- dApps. This is why we need EINC. Organizations need a purely decentralized architecture that can run and flourish without any intermediaries and this need led eInc to commence the EtherInc Blockchain. EtherInc Blockchain offers both, decentralization as well as, higher bandwidth needed to run global organizations.

WHAT IS ElNC (Etherlnc)

EINC was created as a fork of Ethereum on block 5078585. ETI Coins are used as the driving facilitators of EtherInc, and are also used to pay transaction fees. There are so many inadequacies on the existing Ethereum blockchain that gave rise to the creation of Etherlnc. They are:

(1) Transaction speed on ethereum blockchain is very low and the Gas price is very high. To complete a transaction on the Ethereum blockchain requires fees in the form of gas, and these fees are very high.

(2) The Ethereum network will halt down if so many transactions is being done because their is no enough bandwidth to handle complex organizations.

(3) So many concerns are being raised about the scalability of the Ethereum blockchain since it cannot handle large transactions at the same time.

(4) Other blockchains such as NEO and Ethereum Classic were unviable because of ther proof of stake algorithm

BENEFITS OF USING ETHERlNC DECENTRALIZED BLOCKCHAIN

The Elnc Blockchain takes some of the burden of daily business operations off the business owner. When the owner allows others to perform such tasks as hiring new employees or ordering supplies, this frees her up to spend more time on big-picture items, such as planning for expansion or meeting with important clients. Though it can be hard for some owners to allow this type of flexibility, the rewards can be substantial for both employees and business owners.

The Etherlnc Blockchain helps business owners Prepare for Emergencies. A situation may arise where the business owner must be away from the business for an extended period time because of illness or another type of emergency. A decentralized structure provides a better chance that the organization will maintain self-sufficiency because managers and employees are accustomed to working autonomously. Give the process a test run by leaving the business for a week or two -- a vacation, perhaps -- and evaluating the results when you return.

A decentralized organization is able to make decisions more quickly than one with a centralized structure. A manager often can make a decision without having to wait for it to go up a chain of command, allowing the organization to react quickly to situations where fast action can mean the difference between gaining and losing a customer.

For a growing business, Etherlnc decentralized blockchain can facilitate the process of expansion. For example, if expansion results in opening a new business unit in a different geographic area, decentralization allows the new unit to operate as an independent entity, meaning it can react more easily to the specific needs of the area, such as deciding to sell products that appeal to the local market.

Etherlnc has created a system where people everywhere can work together , as a single organization, based on cryptographic proof instead of trust, and operate borderless, permissionless, democratically, and transparently, with the consensus of its shareholders, without the need of a trusted third party and/or costly intermediaries. EInc empowers people to create, manage, and operate decentralized democratic organizations that are more resilient and trusted . By using Elnc there will be efficient creation of value without borders, restrictions, and costly intermediaries or a trusted third party.

Etherlnc has created an abstract base layer consisting of a chain of blocks with a built – in programming language. With this chain of blocks, anyone within the Etherlnc system can create contracts and decentralized applications where they can set their own rules of owernership and transaction formats. Organizations can also use Etherlnc built-in agreement tokensale smart to raise funds for the development of their company.

FOR MORE DETAILED INFORMATION ABOUT ETHERlNC BLOCKCHAIN, PLEASE VISIT THE FOLLOWING:

Website : einc.io

Email : [email protected]

Wallet: https://wallet.einc.io/

Community: https://community.einc.io/

Organisation Explorer (Mainnet): https://etherinc.org/

Organisation Explorer (Rosten Testnet): https://ropsten.etherinc.org/

Block Explorer (Mainnet): https://explorer.einc.io/

Block Explorer (Rosten Testnet): https://ropstenexplorer.einc.io/

Network (Mainnet): https://network.einc.io/

Network (Rosten Testnet): https://ropstennetwork.einc.io/

eIncMeta: https://chrome.google.com/webstore/detail/lghmfnfghfcjoblchpmlghkigcgakoag